Top 5 Benefits to Maintaining Good Stock Management – Desspos Solutions

Benefits of stock control include having the visibility of all products a business currently owns including physical and cloud-based items. Stock control management incorporates proactively managing new stock alongside stock that has been sold.

 When a company has a more comprehensive overview of their stock control, they’re able to meet customer demand in a more efficient manner and decrease any cost that’s associated with holding stock.

Good stock control is when a business has full knowledge of every product type in the warehouse. This consists of inventory control, order management, supply chain links and stock value.

Stock management solutions also assist in ascertaining what is a best seller and what is not selling as well and evaluates when it is time to re-order stock for optimum business efficiency.

Enhance productivity and efficiency

Wholesale distributors can radically improve productivity and efficiency in their warehouse when they implement stock management software. The software will eliminate any time-consuming manual processes, freeing up time for employees to focus on other areas of the business. 

Organize the warehouse

 

A disorganized warehouse creates hundreds of problems – staying on top of inventory is just one of them. When you have a clear stock management strategy in place, organizing and managing the warehouse becomes much easier. From placing your best-selling products together, to arranging your warehouse by brand or seasonality, you can rearrange your stock so that it’s easily accessible. This means that your employees can find products quickly, complete the order fulfillment process in a timely manner, and in turn keep your customers happy!  

Desspos has over 40 years experience in Point of Sale Solutions, we can tailor a point of sale system to your requirements. 

Security Cameras & Wireless CCTV + Home Security – Desspos Solutions

Desspos CCTV security system is a professional network video management system to record video and audio over TCP/IP Networks.

 It can work with many types of IP device comprising of hundreds of models, including Megapixel IP Cameras, IP Box Cameras, IP IR Cameras, IP Dome Cameras, IP Speed Dome Cameras, and Video Servers.

With the included iPhone and Android app and feature-rich NVR Client Portal, customers can reach and view live video surveillance data from any location at any time using an internet enabled desktop computer, laptop or iOS (Apple) or Android smartphone.

 What are retail solutions? Before we continue, it's essential first to define retail solutions for what it is. Retail Solution NSW, In the context of this piece, whenever we mention it, we're referring to services, software, hardware or products that a third party provides to you.

A point of sale (POS) system is the software and hardware that allows a business to accept payments and track sales. Retail Point oF Sale System NSW,  are initially for Whilst point of sale system used to refer to the cash register, POS systems today are entirely digital, allowing payments to be processed from anywhere.

Your customers will come back for more

If your customers know that your products are always available and they’ll get their orders fulfilled in good time, they're likely to return. To remain competitive and have an edge, you need to be able to meet customer demand in the most efficient manner possible, and this is where stock management comes in. You’ll have the tools for complete control over your product levels, and the power to place a purchase order for restocking, in order to maximise efficiency and sales.

Sell your products with ease using multiple channels

If you’re selling products across multiple channels such as Amazon, eBay, over the phone or in-store, staying on top of and tracking these orders from all channels manually can become a minefield. With fully integrated software, your stock control will be managed from each channel so that stock levels are kept up to date and customers are kept happy.

 

What issues does Stock Control help to resolve?

Running out of stock

For a company to successfully do business, it must have the products, materials and/or services that the customer needs. Depleting Minimum stock levels (also known as a ‘stock-out’) happens when the product, material or service is not available to meet customer demand, and usually happens when demand is higher than usual.

Running out of stock not only damages the reputation of a business, but it can also create large financial losses due to the lack of sales. This illustrates the need for a robust stock control system and why it is so important.

Stock Management software provides real-time forecasts such as seasonal trends, to ensure a stock-out doesn’t happen. A Stock Management system will ensure that there is an appropriate level of stock for all situations.

Club Solution

SwiftPOS is a fully integrated membership system that can link every sales transaction to the member who made the purchase. This allows you to analyse your sales in so many ways to benefit your members that support the club.

With a wealth of features from receipting membership at POS and printing membership cards, sub club management, vouchers, discounts, anniversaries or birthdays through to raffle tickets and gaming integration .

 

Overstocking

The opposite of a stock-out is overstocking, and while it may seem like having a high-level of stock at all times is a solution, it comes with its own issues. The excess stock becomes tied up in the business’s capital, which could have been used in other places. The excess stock also incurs additional warehousing costs due to spacing, and in some instances, the stock, finished goods or raw materials become outdated or spoiled before you even get the chance to sell it.

Removes the need for guesswork

Stock control gets rid of the guesswork in your forecasting and allows for much more accurate data when you’re setting figures. This means that the sales and marketing departments can set realistic forecasts and the purchasing department can order stock based on real historical data.

Helps with returns management

Having control over your stock will help you to create a clear process for when stock is returned or damaged and will prevent the wrong stock from being sent out to customers. A stock management system will help the warehouse team to correctly process the products and assign them to the correct locations. This is to ensure stock doesn’t end up in ‘returns bins’ and is never reissued to be sold.

Theft and missing stock

When all stock is accounted for and organised with correct barcodes and in the correct bin location, it becomes a deterrent for potential theft, and it becomes harder to misplace or lose stock. Good business software will give you clear visibility of the whereabouts and status of all your products, so you’ll be able to identify different types of stock, errors or misplaced items.

It’s impossible to have complete accurate stock control if you’re relying on manually updating spreadsheets because human error and long processes increase the likelihood of inaccurate information. If you're looking to drive your business forward, manual stock control is not reliable. If you’re planning to expand your product lines you need a connected, reliable stock management system to support you and automate the processes for maximum efficiency.

The purpose of stock control is to reduce the costs of holding stock while ensuring you can meet customer demand and making sure that there’s enough material for production. Businesses should always have a ‘safe’ amount of stock so that they’re able to react and cover any unforeseen issues.

SwiftPOS Touch Stock Features

•          Transfers at the POS.

•          Search for stock availability in other locations or warehouses from the POS.

•          Stocktake at the POS.

•          Write off Wastage at the POS.

•          Process Supplier Invoices at the POS for daily deliveries at remote sites.

•          Add bar codes at the POS Terminal.

 

Product Management and Stock Control Features

•          Monitor inventory levels and reduce overstocking, shrinkage and theft.

•          Increase stock turnover and reduce the amount of inventory sitting on shelves.

•          Easy to change prices, check stock levels and manage your inventory for maximum profit.

•          Hand held Portable Data Entry Terminals for quick inventory counts

•          Multi-level Recipe control to track ingredients and create usage reports of base products. Uses Parent/Child relationships to link products.

•          Multi-location and multi-Venue inventory management.

 

Portable Data Entry for Stock Control PDA/PDE

•          Stocktake (Physical Inventory) using a hand held Portable Data Entry (PDE) device to scan bar codes or PLU numbers.

•          Speed up the Stocktake process by only having to press {Scan} then quantity. No searching through pages of information looking for the product.

•          The time saved in doing accurate Stocktakes easily justifies the investment of the hand held PDE.

•          Bar Codes and descriptions are transferred to the PDE so that when you scan, the product description is displayed on the screen.

•          Scan cartons and bottles of the same product and let the computer work on the variance in bottles automatically.

•          Multiple PDE’s can be used to cover large venues.

•          Can be used for stock transfers as well as Stocktakes.

•          New bar codes are quickly identified as not being on file so you can automatically add them for existing products.

•          Can automatically add products not counted to complete a physical stock count. (Stocktake)

•          Easy to see Variance by Location and overall variance and value for the venue before committing the Stocktake.

•          Create orders on Suppliers using the PDE to scan existing shelf bar codes.

•          Use the PDE to “shop-the-shop” for price checking and adding new products using your existing selling prices.

 

Suppliers/Vendors

•          Track Suppliers (wholesalers) and Product Manufacturer for rebate schemes.

•          Products can be managed in single units but ordered in cases.

•          Products can be linked to multiple suppliers showing the minimum purchase quantity, last purchase price and date, for each Supplier of that inventory item.

•          History of all purchases from Suppliers with price variances over any period.

•          Ability to create purchase orders on Suppliers with a wizard and automatically fill orders based on reorder quantities.

•          Average the freight cost across the invoice to create a true cost per item.